Cyclopropenylidenes are Hückel aromatic π-systems in which one of the ring atoms is a carbene center. Quantum chemical calculations at density functional level, supplemented by coupled-cluster calculations, indicate that these species have a sizeable energy separation between the lowest energy singlet and triplet states. Amino groups considerably increase the energy difference between these two states, while electron-withdrawing substituents decrease it. The 1.1-dimerization products of cyclopropenylidenes, namely triafulvalenes, are investigated. The calculations show that, without steric hindrance and considerable electronic stabilization, cyclopropenylidenes are kinetically not stable and dimerize. Different substituents (alkyl, silyl, terphenyl, amino, and posphaneiminato) were probed to tune the energy levelling of the frontier orbitals in cyclopropenylidenes. Accordingly, it is predicted that by a suitable choice of substituents at the olefinic positions, cyclopropenylidenes can be more nucleophilic than their five-membered ring congeners, namely imidazol-2-ylidenes.